Nippon Sheet Glass has announced the merger of three 100% subsidiaries into a single company. The aim of the merger of NSG Kanto Co., Ltd., NSG Tokai Co., Ltd. and NSG Kansai Co., Ltd. is to centraliz…
Nippon Sheet Glass has announced the merger of three 100% subsidiaries into a single company. The aim of the merger of NSG Kanto Co., Ltd., NSG Tokai Co., Ltd. and NSG Kansai Co., Ltd. is to centralize the management of manufacturing and order entry, reduce overhead costs, and to meet the growing need to enhance competitivity in the quality, price and timely delivery of insulated, laminated and tempered value-added building glass products. The name of the new company has not yet been decided. With a share capital of JPY 50 million, entirely owned by NSG, the new firm will employ 720 and be headquartered in Ichihara city, Chiba Prefecture. The merger is scheduled to take place on 1 April 2008. As a consequence of this transaction, the surviving company (NSG Kanto Co., Ltd.) will be classified as a designated subsidiary as per Article 19. of Cabinet Order for corporate information disclosure.